The Madrid incubator, established almost four years ago, is one of the most active in the Mediterranean area, offering opportunities for growth and incubation to 118 companies a year

Spain, like many Mediterranean countries, has suffered severely from the recent economic crisis. But there is one aspect in which it has excelled compared to many others. By that, we mean Factorìa Cultural, a major hub for start-ups established in Madrid almost four years ago.

This huge shared space comprises 118 workstations for as many companies, as well as meeting rooms, refreshment points, open spaces and areas for seminars. The main aim is to support enterprises, acting as a start-up incubator. Factorìa Cultural provides business advice, subsidies and support, as well as help raising funds and drawing up business plans.

While in some countries - such as Portugal, with its Hub Criativo do Beato - this type of incubator is supported by major private financiers, in Madrid, the hub is driven by the public sector. Indeed, to this day, its major supporters are the Ministry of Education, the Directorate General of Cultural Heritage of the Community of Madrid, and a series of cultural foundations based in the capital.

The aim of Factorìa Cultural is to support enterprises, providing business advice, subsidies and support.

The Factorìa has two “calls for tender” per year, i.e. two moments when projects compete for a place inside the hub. The calls take place in July and December, and offer new projects the chance to join a six-month incubation programme.

The Madrid hub was also the first in Europe to develop a partnership with Sony - in particular with the Spanish branch, Sony Interactive Entertainment Spain - to promote the Playstation Talent Games Camps. The aim is to guide young talents in the gaming sector, backed by one of the companies that has most contributed to its development. Sony offers successful projects a series of advantages, such as technical and legal advice, development kits, and even a marketing campaign worth more than €100,000. The aim of the programme, which in this case lasts ten months, is to develop a fully-operational Playstation4 game. Not bad!